A company founded by executives who once steered an MLM into bankruptcy is now running another multilevel marketing operation out of Georgia.

myEcon, based in Gwinnett County near Atlanta, calls itself the "personal financial success company." But its leadership history raises red flags. Alvin Curry and Ivey Stokes, who founded myEcon in 2005, were previously chairman and CEO of Maxxis Group, an MLM that collapsed into Chapter 7 bankruptcy in 2003. A bankruptcy trustee later sued both men along with others, accusing them of breaching fiduciary duty, wasting corporate assets, and deepening the company's insolvency. They didn't act in the company's best interests, court documents show.

CEO Larry Gates wasn't far removed from that disaster either. He sat on Maxxis Group's board of directors and owned shares in the company before joining myEcon.

Curiously, neither Curry nor Stokes receive name recognition on the myEcon website, despite both listing themselves as owner/president and executive vice-president respectively on their LinkedIn profiles. Gates gets top billing instead, credited with 20 years in communications, marketing and business operations, plus years in financial services.

The company pitched itself as debt-free and privately held, but in October 2016 myEcon merged with Novae, another MLM. A press release promised the combined entity would "change the lives of millions across the country" by blending leadership, systems, marketing, and culture into what executives called "a huge conglomerate."

myEcon's membership package bundles several services. Members get access to Cashflow Manager Software, Identity Theft Protection, discounted legal services, tax advice and preparation, and identity theft prevention. After the merger, Novae's offerings—Novae Perks, Novae Library, and Novae Travel—came with no additional cost to existing distributors.

The company also sells individual services at retail prices: ID Defender runs $7.99 monthly. Road Assure roadside assistance costs the same. Cashflow Manager is $10.95 a month. Credit Restoration charges $99.95 to set up, then $99.95 every three months. Family Shield 360 starts at $13.95 monthly.

Some products carry no retail cost. Cashback Mall functions as a third-party cashback affiliate network. The Travel Portal redirects customers to Priceline's website at no charge to myEcon.

The real money in MLMs flows from recruitment, not retail sales. Distributors join by purchasing membership packages, then recruit others beneath them in the pyramid structure. Earnings come primarily from commissions on recruits' purchases rather than actual product sales to outside customers—a hallmark of illegal pyramid schemes.

myEcon's track record suggests familiar patterns. Its founders rebuilt after one failed MLM by launching another. The absence of Curry and Stokes from the public-facing website, despite their ownership roles, mirrors tactics used by companies trying to distance themselves from past controversies.

For recruits considering myEcon, history matters. The men running this operation already drove one multilevel marketing scheme into bankruptcy court. They're now asking people to invest in another one.

🤖 Quick Answer

What is myEcon and who founded it?
myEcon is a personal financial success company based in Gwinnett County near Atlanta, Georgia, operating as a multilevel marketing business. Founded in 2005 by Alvin Curry and Ivey Stokes, it provides financial services and recruitment opportunities to its members and distributors.

What was the previous business history of myEcon's founders?
Alvin Curry and Ivey Stokes previously served as chairman and CEO of Maxxis Group, another MLM company that filed for Chapter 7 bankruptcy in 2003. A bankruptcy trustee subsequently sued both executives, alleging breaches of fiduciary duty and mismanagement of corporate assets.

What legal allegations were made against myEcon's founders regarding Maxxis Group?
The bankruptcy trustee accused Curry and Stokes of breaching fiduciary

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